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Transferring bitcoins from LocalBitCoins to Bittrex

After purchasing some Bitcoins. I had to choose a platform so that I could do some trading.

According to the Crypto Trade Signals and other facebook groups, Bittrex and Poloniex seem to be most popular. However I will be choosing bittrex for no other reason than to be able to just get started.

How to transfer to Bittrex from LocalBitCoins

  1. On Bittrex, clicked on Wallets  and on the list of cryptocurrencies, clicked on the PLUS (+) sign next to BTC Bitcoin.
  2. Being my first transaction I clicked “Generate Address”, it took a few seconds and then I coped the very long string.
  3. On LocalBitCoins (or whereever you have your Bitcoins stored) click on Wallet then send bitcoins.
  4. Paste the long address and the amount of BTC you want to transfer, MINUS the transfer fee. It auto converts to your local currency to let you know.

I’ve just moved all my BTC (about $700 USD worth).

General plan

  • The founder of Crypto Trade Signals does daily postings and I’ve joined his telegram group to see what his recommendations are and test out 10% of bankroll at a time per recommendation.  This is the easy way and I will allocate $350 to pick and choose various coins. An hour ago he has recommended to buy BAT on bittrex so I’ll put in $50 and see if I can get a few dollars.
  • Crypto Coin Trader FB group has a few more people posting what they hold and what they think are low. Good to start with and I’ll try some trades here too.
  • Keeping $350 USD to follow the BHW methodology of day trading. look for low and only sell after 5% increase.  This is the slow and more safe way. I KNOW NOTHING RIGHT NOW ABOUT HOW TO USE ANY OF THE TOOLS so it’s going to be a long path
  • I’ll probably adjust as we go.

 

Cryptocurrency Groups on Facebook to Join

I’m going to read a bit more on crypto trading. I’ve joined the following groups on facebook yesterday

Crypto Traders – News and updates about crypto currency, good to get a macro look at what is happening rather than specific advice on day trading, about 200 members.

Crypto Coin Trader – Seems active, lots of posts as well a mix of ads and other things.

Crypto Trading Madness – Run by a man named Shezz Amin and he seems to know his stuff. about 2,200 members (900 new). Recommend this group.

Crypto Trading Signals – A huge group (10k+) however the content quality does not seem to be moderated well. Lots of advertisements rather than quality advice and its hard to sift through it all. many posts are also not in English.

Advanced Crypto Asset Trading – Originally capped at 900 members, the big recent influx of crypto currenty foragers have allowed an increase in members. They try to keep posts moderated and quality. English friendly and lots of active topics. They also have an even more advanced group for actual traders. I certainly don’t qualify yet fo rit.

I’ve applied for a few more and I’ll update this post as I am accepted and find out more.

I will soon get started on a trading platform (Poloniex?) to start with and just get used to the feel of how to trade.